Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (11) TMI 399 - AT - Income TaxPenalty u/s 271(1)(c) - Held that - As the Addition was deleted by the tribunal in quantum proceedings itself, penalty cannot survive and is deleted - appeal of the assessee is allowed.
The Appellate Tribunal ITAT, Ahmedabad allowed the assessee's appeal against a penalty of Rs.5,50,485 imposed under section 271(1)(c) of the I.T. Act for assessment year 2001-02. The penalty was deleted as the addition of Rs.15.15 lacs, on which the penalty was based, was already deleted by the Tribunal in quantum proceedings.
|